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Drilling Continues to the Southeast on the Coneto Gold-Silver Project in Durango, Mexico
Published : November 18, 2014
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Mots clés associés :   Copper | G Mexico |

Drilling Continues to the Southeast on the Coneto Gold-Silver Project in Durango, Mexico

VANCOUVER, Nov. 18, 2014 /CNW/ - Orex Minerals Inc. – (TSX-V: REX) ("Orex"), has received from their project partner Fresnillo PLC (LSE: FRES) ("Fresnillo"), the second of three batches of drilling results of the Phase-III diamond drill program on the Coneto Gold-Silver Project in Durango, Mexico.

Similar to the October 7th 2014 news release of the first batch, which were drilled 3 km northwest of the village of Coneto de Comonfort, this second batch consists of a dozen exploration diamond drill holes, widely spaced, on multiple targets approximately 1 to 4 km to the southeast of the village.

Notable intercepts include BCO-40 on the Promontorio vein, yielding 3.90 m (true thickness) grading gold 1.85 g/t and silver 70 g/t for a gold-equivalent of 3.02 g/t, or a silver-equivalent of 181 g/t. Five holes were drilled on the Impulsora vein over a 1.9 km strike length. Hole BCO-42 on this structure yielded 3.09 m grading gold 0.99 g/t and silver 70 g/t for a gold-equivalent of 2.14 g/t, or a silver-equivalent of 129 g/t. Five holes were drilled on the Descubridora vein over a 600 metres strike-length. Hole BCO-47 on this structure yielded 4.50 m grading gold 0.79 g/t and silver 56 g/t for a gold-equivalent of 1.72 g/t, or a silver-equivalent of 103 g/t.

Orex's President, Gary Cope says, "As mentioned last month, the Santo Niño, La Bufa, Loma Verde and Impulsora veins all look very prospective for gold and silver. These drill results add the Promontorio and Descubridora veins to that list."

Phase-III Batch-2 Drilling Highlights

Structure

From

(m)

To

(m)

Core

Length

True

Width

Au

(g/t)

Ag

(g/t)

Ag-Eq

(g/t)

Au-Eq

(g/t)

BCO-40









Promontorio

79.40

89.30

9.90

9.30

0.90

40

94

1.57

includes

79.40

83.55

4.15

3.90

1.84

70

181

3.02

includes

79.40

82.45

3.05

2.86

2.16

84

214

3.56

BxA-VTA

101.30

103.85

2.55

1.27

2.12

52

179

2.98

includes

101.30

102.80

1.50

0.75

2.17

71

201

3.35

Intermedia

153.85

165.05

11.20

7.20

0.48

11

40

0.66

includes

153.85

156.45

2.60

1.67

0.84

31

81

1.36

includes

154.55

155.25

0.70

0.45

1.26

51

127

2.11

Impulsora

283.25

285.80

2.55

1.65

0.99

4

64

1.07

includes-ImpA

283.25

284.80

1.55

1.00

1.23

5

79

1.32

includes-ImpA

284.25

284.70

0.45

0.29

1.75

5

110

1.84

BCO-41









Impulsora

63.00

106.05

43.05

36.90

0.28

5

22

0.36

includes-ImpA

63.00

64.05

1.05

0.90

1.65

59

158

2.63

includes-ImpB

101.40

104.25

2.85

2.44

0.44

4

30

0.50

BxA-VTA

128.95

135.00

6.05

4.24

0.41

4

28

0.47

includes

132.45

134.20

1.75

1.23

0.62

6

43

0.72

BxA-Diss

140.50

149.80

9.30

6.51

0.46

2

29

0.49

includes

148.50

149.80

1.30

0.91

0.70

2

44

0.73

BCO-42









Impulsora

54.55

63.75

9.20

7.01

0.54

39

72

1.19

includes ImpA

55.35

59.40

4.05

3.09

0.99

70

129

2.14

includes ImpA

55.75

56.10

0.35

0.27

3.76

530

756

12.60

BxA-VTA

107.60

121.35

13.75

8.80

0.62

20

58

0.96

includes

111.55

119.00

7.45

4.77

0.94

28

84

1.40

includes

117.20

119.00

1.80

1.15

2.84

30

200

3.34

Nogales

277.85

292.60

14.75

9.83

0.16

5

15

0.25

includes NogA

278.85

279.00

0.15

0.10

1.87

5

117

1.95

includes NogB

291.85

292.60

0.75

0.50

0.31

18

36

0.61

BCO-43









Impulsora

261.20

289.50

28.30

20.00

0.33

8

28

0.46

includes-ImpA

264.40

277.90

13.50

9.50

0.46

12

40

0.67

includes-ImpA

273.35

277.90

4.55

3.22

0.52

21

52

0.87

BCO-44









Impulsora

49.20

73.55

24.35

15.50

0.56

13

47

0.78

includes-ImpA

49.20

55.35

6.15

3.91

1.29

31

108

1.81

includes-ImpA

49.20

50.50

1.30

0.83

2.84

90

260

4.33

Nogales-NogA

105.55

106.35

0.80

0.60

0.32

7

26

0.43

Nogales-NogB

136.60

138.55

1.95

1.80

0.35

10

31

0.51

Isla

161.10

164.70

3.60

2.75

0.46

15

43

0.72

includes

162.90

164.25

1.35

1.03

0.68

27

68

1.13

BCO-45









Descubridora

97.90

103.75

5.85

4.50

0.22

79

93

1.54

includes

99.35

103.75

4.40

3.38

0.23

98

112

1.86

includes

103.30

103.75

0.45

0.35

0.93

613

669

11.15

BCO-46









(no significant intercepts)

BCO-47









Descubridora

119.40

125.25

5.85

4.50

0.79

56

103

1.72

includes

119.85

121.05

1.20

0.90

1.53

106

198

3.30

includes

123.30

125.25

1.95

1.50

1.25

65

140

2.34

BCO-48









Descubridora

170.85

173.80

2.95

2.31

0.55

77

110

1.83

includes

171.65

172.80

1.15

0.90

0.95

192

249

4.15

includes

171.65

172.25

0.60

0.47

1.54

349

442

7.37

Descubridora-B

184.65

188.05

3.40

2.60

1.02

13

75

1.25

includes

185.85

187.55

1.70

1.30

1.90

26

140

2.33

includes

186.60

187.55

0.95

0.73

1.85

37

148

2.47

Sauce

308.35

311.85

3.50

3.23

0.15

6

15

0.25

includes

308.35

311.05

2.70

2.49

0.17

6

16

0.27

includes

310.80

311.05

0.25

0.23

0.59

15

50

0.84

BCO-49









Descubridora

279.00

281.95

2.95

2.26

0.50

22

52

0.87

includes

280.25

281.95

1.70

1.30

0.63

36

73

1.22

includes

281.25

281.95

0.70

0.54

0.76

76

122

2.04

BCO-50









Palma

174.05

176.80

2.75

2.08

0.30

35

53

0.88

includes

174.05

175.40

1.35

1.02

0.54

62

94

1.57

includes

174.95

175.40

0.45

0.34

1.41

169

254

4.23

Sta Teresa

197.85

199.55

1.70

1.16

0.31

71

90

1.50

includes

198.60

199.55

0.95

0.65

0.38

108

131

2.18

includes

198.60

198.80

0.20

0.14

0.47

332

360

6.01

BCO-51









Palma

256.20

270.50

14.30

11.00

0.24

10

24

0.41

includes-PalA

260.90

261.60

0.70

0.54

0.54

9

41

0.69

includes-PalB

266.50

270.50

4.00

3.08

0.42

21

46

0.77










The Santo Niño, Bufa and Bufa-Alta are steeply dipping, sub parallel epithermal veins in the La Bufa Zone, 3 km northwest of the village of Coneto de Comonfort. Impulsora, Descubridora, Intermedia, Nogales, Palma, Santa Teresa and Sauce are similar type steep veins extending for over 6 km southeast of the village. Promontorio is a quartz-hematite stockwork and veining structure 4 kilometres to the southeast of the village. BxA are andesite breccia zones with veinlets in unnamed structures.

Silver-equivalent for the purposes of this news release is defined as silver grade plus 60 times gold grade. Gold-equivalent is defined as gold grade, plus silver divided by 60. The 60:1 ratio is based on the mid-term spot price projections of silver $20/ounce and gold $1200/ounce. Metallurgical recoveries and net smelter returns are assumed to be 100% for the equivalent values. Base metal values are not included in the equivalent values.

Coneto Mining District – Durango, Mexico

The historic Coneto Mining District is situated in the heart of the "Mexican Silver Trend", on the Mesa Central, stretching from Guanajuato in the southeast, through to the states of Zacatecas and Durango. This prolific trend hosts some of the world's largest silver camps and deposits, including Fresnillo, Guanajuato, La Pitarrilla, La Preciosa, Real de Angeles, and Zacatecas.

Orex and Fresnillo hold extensive contiguous mineral concessions in the Coneto Mining District, which collectively total approx. 17,600 hectares and cover multiple mineralized epithermal quartz veins. In the first two phases, Orex and Fresnillo drilled 51 holes totaling 17,000 metres. The Phase-III drilling program is planned for 10,800 metres.

Ben Whiting, P.Geo, is a Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.

ABOUT OREX MINERALS INC. 

Orex Minerals Inc. (TSX-V: REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver-Copper Project in Sinaloa, Mexico, the Jumping Josephine Gold-Silver Project in British Columbia, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently under option to Fresnillo plc.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Orex undertakes no obligation to update such statements, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Orex Minerals Inc.

For further information: please contact Orex Minerals Inc. at (604) 687-8566 x227, email info@orexminerals.com or visit our website at www.orexminerals.com

Fresnillo Ltd.

PRODUCTEUR
CODE : FRES.L
ISIN : GB00B2QPKJ12
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Fresnillo est une société de production minière de zinc et de plomb basée au Mexique.

Fresnillo est productrice de zinc, de plomb, d'argent, de cuivre et d'or au Mexique, en développement de projets d'argent et d'or au Mexique.

Ses principaux projets en production sont CIÉNEGA, HERRADURA, FRESNILLO, SABINAS, SOLEDAD & DIPOLOS, ORISYVO et SAN JUAN - FRESNILLO au Mexique, son principal projet en développement est SAUCITO au Mexique et ses principaux projets en exploration sont SAN JULIAN - FRESNILLO, JUANICIPIO et NOCHE BUENA au Mexique.

Fresnillo est cotée au Royaume-Uni. Sa capitalisation boursière aujourd'hui est 556,5 milliards GBX (665,7 milliards US$, 583,2 milliards €).

La valeur de son action a atteint son plus haut niveau récent le 17 juillet 2020 à 998,60 GBX, et son plus bas niveau récent le 30 septembre 2022 à 755,60 GBX.

Fresnillo possède 736 500 000 actions en circulation.

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